FT Partners Advises Mobile Payments Leader ProPay on its Strategic Sale to TSYS
Overview of Transaction
- On November 15, 2012, ProPay announced its proposed sale to TSYS
- ProPay is a leading provider of technology-enabled payment processing solutions for organizations ranging from small, home based entrepreneurs to multi-billion dollar enterprises
- TSYS provides electronic payment processing and other services to card-issuing and merchant acquiring institutions in the United States and internationally
- The terms of the transaction were not disclosed; TSYS expects to close the transaction in late 2012
- The acquisition positions TSYS to capitalize on the explosive growth of mobile payments and more effectively compete in the small and micromerchant segment
- ProPay also provides TSYS with a new, highly leverageable sales channel designed to access the growing micromerchant market through its direct selling and other affiliate partnerships
- The acquisition positions ProPay to pursue additional growth opportunities and further scale the business by leveraging TSYS' strategic relationships, processing capabilities and expertise in the sector
- FT Partners served as exclusive strategic and financial advisor to ProPay in its sale process
- Highlights FT Partners' unparalleled capability of helping companies in the Payments sector find the best strategic partners and achieve favorable outcomes for stakeholders
- Underscores FT Partners' continued success in advising a broad range of top-tier Payments companies